CATALIST-LISTED food caterer Select Group is being taken private by a consortium led by Temasek Holdings-linked Dymon Asia Private Equity.
The consortium also includes Select’s co-founders Tan Chor Khoon and Tan Choh Peng, who are brothers.
The offer price is S$0.525 a share, a 23.5 per cent premium over the last transacted price on March 18.
Shareholders holding approximately 53.6 per cent of the total issued shares have undertaken to accept the offer.
A notable shareholder currently not part of those who have undertaken to accept the offer is Goh Gaik Choo, the mother of Ezra Holdings CEO Lionel Lee. She owns 23.5 per cent.
Reasons cited for the offer include low liquidity and to give investors more flexibility to manage the business, as well as to save on listing costs.
We are an award winning South East Asia Focused private equity firm, investing in lower mid-market space. Owned and managed by Southeast Asian professionals with multi-year track record of successful investments. We are the private equity arm of Dymon Asia Capital